Over 1.7 billion Shiba Inu (SHIB) tokens were burned in the last week of 2024, raising questions about the future of this meme coin in 2025. SHIB recorded a slight burn in a notable move just before the end of 2024. The project has seen over 1.7 million SHIB tokens removed from circulation in a major burn. At the time of press, SHIB was trading at $0.00002124, down 33% over the past 30 days.
Before this downturn to close out 2024, data from Shibburn shows that the Shiba Inu burn rate has skyrocketed by 243.34% in the past 24 hours. Specifically, 1,717,872 SHIB tokens have been sent to dead wallets on the network. The burning of Shiba Inu tokens is a statistic often measured when understanding asset prices and circulating supply. The burning of SHIB tokens is done to maintain solid value by manipulating the number of SHIB at a certain point in time. With token prices declining in December, the burning of over 1.7 million SHIB is likely to spark a price increase at the beginning of 2025.
Shiba Inu ends 2024 with huge trading volume
On December 31, Shiba Inu's market volume surged significantly by 31.11% to $538.36 million as market participants engaged in a final trading frenzy on the last day of the year. The asset is expected to have a strong start in 2025, with price predictions signaling an increase this January.
Analysts predict that burning billions of dollars worth of SHIB will be one of many catalysts for this increase. Additionally, analysts believe that for SHIB to test higher prices in 2025, the community must engage more, and developers need to launch new projects to drive participation.
Before 2025, Shytoshi Kusama, the mysterious leader of Shiba Inu, has committed to an exciting year, with optimistic plans for the ecosystem. According to Kusama, 2025 will be "spectacular". Most meme cryptocurrency and altcoin markets are optimistic as they start 2025, and SHIB hopes to be one of the leaders.
According to CoinCodex, Shiba Inu is expected to trade within a range of $0.00001782 to $0.00009306 in 2025, with an average annual price of $0.00003609. Compared to the current price, this could yield a potential investment return of 327.75%. However, in the first month of 2025, Shiba Inu is expected to trade at a maximum price of $0.00004582, a significant improvement over the current price.